Tags: ATMs

A new legislative investigation found some crypto ATMs charging a premium as high as 33, while a few ATMs had limits of up to $50,000.

The crypto ATM industry gets little attention relative to its size and issues. It appeals to users with motivations ranging from convenience to investment.

Unregistered crypto ATMs are illegal, the FCA said (Ivan Radic/Flickr)

U.S. Securities and Exchange Commission headquarters in Washington, D.C. (Jesse Hamilton/CoinDesk)

General Bytes has implemented several measures in the wake of the hack, including offering to reimburse its cloud-hosted customers and adding new security measures.

Bitcoin ATM manufacturer General Bytes said a hacker was able to install and run a Java application in its terminals that could access user information and send funds from hot wallets.

The FCA began taking action against illegal crypto ATMs last month, inspecting sites in the northern city of Leeds.

The Financial Conduct Authority teamed up with West Yorkshire Police to tackle crypto ATM operators in Leeds.

Coin Cloud was provided an unsecured loan of $100 million from Genesis Global Trading.

Australia now enjoys 234 crypto ATMs, which puts her in the third spot globally after the United States and Canada.